Moody's move puts $75.5 billion in Australian RMBS on watch

02/4/2008 | Reuters

Moody's Investors Service said it may downgrade some Australian securities backed by residential mortgages. Moody's issued the statement after placing ailing PMI Mortgage Insurance Ltd. on watch for a possible downgrade following rising loan losses in the United States. The effect through PMI's Australian operation could mean downgrades for $75.5-billion worth of residential mortgage-backed securities.

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